Alex Eckman’s Post

Over the years, our "Understanding Canadian Budtenders Report" has uncovered intriguing insights into evolving trends and lasting preferences in the cannabis industry. As we conclude this year's report, I wanted to share some compelling findings. 🌿 **Brand Recommendations**: - Craft Brands: Small, craft brands like Carmel and MTL Cannabis are now leading choices, signaling a shift from larger LPs. Quality and reputation are top concerns among respondents. - Sample Influence: The significance of samples has grown, with more Budtenders receiving them in 2024 due to increased sampling opportunities and loosening regulations. 🔍 **Product Preferences**: - Disposable Vapes: Usage spiked from 40% in 2023 to 69% in 2024, reflecting a rising demand for convenience. - Flower: With a slight increase to 95% in 2024 from 93% in 2023, flower usage remains prevalent. 🛒 **Purchase Drivers**: - Terpene Profiles: Still a key factor, strain lineage has gained prominence, with 1 in 3 Budtenders in 2024 considering it essential. - Flavor/Aroma: While declining in significance, small batch production and attentive cultivation are now key premium indicators. These shifting trends emphasize the dynamic nature of the cannabis sector, emphasizing the need for adaptability and informed decision-making. Our latest report offers valuable insights to help brands navigate these changes effectively. 📊 If you're interested in the Executive Summary, feel free to DM for a copy. #CannabisIndustry #Trends #BrandInsights

Food and cannabis. Name a better combo. We’ll wait. 😎 Over the past few weeks, I’ve worked with my marketing team to revamp our content strategy and workflow. After a few cycles of testimonials, we pivoted to keep things fresh and began to lean into food. Like a smoke session, making food and drinks can be very social rituals. Food is a fun and easy way to integrate cannabis products into everyday life or a special occasion. If want to introduce cannabis to friends and family in a palatable way that’s extremely approachable, share a recipe. Drinks can be dosed for any type of level - in this case we opted for the macrodoser integrating Uncle Arnie's Sunrise Orange 100mg beverage into our Mangonada Mocktail recipe. 💃 We deployed this Instagram Reel today to align with our Cinco de Mayo Weekend promotional launch at all blüm locations. Are we driving awareness to the promotion? Yes, but that’s not the main value proposition for our customer. The value here comes from opening their eyes to a different application of cannabis. We want our customers to have fun with the products we curate, use them as a tool to create a shareable moment and stir the conversation of cannabis in an organic environment. Big shout out to Mario Narimatsu on the blüm creative team for taking this is next level with the dynamic shots and edit!

🍻 The U.S. hemp-derived cannabinoid market is estimated to be worth $28.4 billion, according to the "2023 National Cannabinoid Report" by Whitney Economics. This valuation aligns with the size of the U.S. craft beer market in 2022, which also reached $28.4 billion, with craft #beer accounting for 24.6% of the overall $115 billion U.S. beer market, according to the Brewer’s Association. 🔸 While craft beer retail #sales grew by 5% in 2022, the hemp-derived cannabinoid market has the potential to outpace it. Whitney Economics presented three different estimates for the market size: a "low" estimate of $21.3 billion, a "mid" estimate of $28.4 billion, and a "high" estimate of $35.8 billion. The highest estimate suggests that the hemp-derived cannabinoid market could surpass the craft beer market. These estimates are considered conservative since they exclude sales from gas stations, grocery stores, and dispensaries. 🔸 The report takes into account the sales of all cannabinoids, including CBD and intoxicating cannabinoids, with CBD making up around 10% of the total market. Of the estimated $28.4 billion market potential, $21.3 billion comes from states where the sale of hemp-derived products is either fully allowed or restricted under certain conditions. The remaining $7.1 billion represents gray or illicit market sales. 🔸 These market estimates were based on a 2023 national survey conducted across 45 states, involving 800 hemp cultivators, manufacturers, distributors, and retailers. The "low" estimate is derived from survey responses, considering the average #revenue per store in each state, multiplied by the number of stores. The "mid" estimate spreads the average sales figures across multiple states, applying them to all stores in those areas. The "high" estimate calculates per capita spending on CBD and cannabinoid products for adults 18 and older, applying that data to the adult populations of all states. 🔸 Overall, the hemp-derived cannabinoid market shows significant growth potential and may soon outpace the craft beer industry, depending on consumer demand and the expansion of legal sales. #distributor #alcohol #innovation #marketing #digitalmarketing #technology #leadership

Big thanks to Green Market Report and Debra Borchardt, Executive Editor, and 2024 EMJAYS Cannabis Journalist of the Year nominee, for featuring Brightfield Group’s data in their latest piece on cannabis trends this fall. 🍂🌿 Curious about how Pumpkin Spice Latte season is influencing the cannabis space? Don’t miss the full article to get all the insights! 📖 Read the full article here: https://lnkd.in/dqiVyMQy #CannabisIndustry #BrightfieldGroup #CannabisTrends #GreenMarketReport 

Over the last two years, Minnesota’s THC market has transformed the way people socialize, particularly for those seeking an alternative to alcohol. With hemp-derived THC beverages becoming more widely available and mainstream, the state has earned its title as the "weed-drink capital" of the country. This shift toward cannabis beverages is not only reshaping social norms but also presenting a unique challenge as the cannabis market is poised for further evolution. #hemp #beverage #hempbeverages https://lnkd.in/gdhMJrFc

It's not a big secret that I've moved away from alcohol and am enjoying the "Cali-sober" lifestyle. This really thorough article from Eater Twin Cities dives deep into the rise and strength of the hemp-derived beverage business here in Minnesota. I know at the co-op we are constantly refilling our cooler, and most of our SKU's are local brands. I've tried them all (you're welcome) and have opinions on milligrams of THC and CBD, flavors, bubbles, price, and how they make me feel in general. Overall, it's been terrific for a little evening relaxation and definitely makes a positive impact on sleep (I'm not a doctor, don't play one on tv, please talk to your own doctor for actual advice). This industry is only growing, and with the full legalization here in MN and dispensaries opening next year, there are bound to be changes. Enjoy this article with a little bit of history lesson. If you want a recommendation from me as to what my favorites are, come on by the Wedge and I'll show you! https://lnkd.in/ghfVeXeP

Did you know drinks only made up 1% of total #cannabis sales in Q1? This recent article on Cannabis Business Times shared some fascinating stats from BDSA: 75% of edible consumers say they had gummies in the past six months… While only 8% say they had a beverage. My question is: What about hemp beverages? Would those numbers change? Here’s what we’re seeing with #hemp e-commerce brands and cannabis dispensaries: The most popular edible they’re selling are gummies. However! Drinks are an exciting category and something we have seen more interest in (especially as more people are searching for healthier alternatives to alcohol.) Do you think drinks could ever surpass gummy sales? #cannabisbusiness #hempproducts #infused #cannabisindustry #wellness #cannabiscommunity

Ben Larson - I struggle with backing the everything, everywhere, all at once strategy. Merely because that would include players who are not embracing the Three Pillars of Cannabis Safety that your article points to. Those players include retailers who directly market products to teenagers - who then go on to have unnecessary law enforcement encounters and potential medical issues. Those players include wholesalers who directly market products to people stating that things are legal when clearly they are not, as was recently done in Michigan. Those players include processors who consistently forgo any pillar of cannabis safety either through ignorance or willful disregard of the safety of consumers. I do not think judgement is an appropriate response but discernment definitely is. And that means, not everything, everywhere, all at once - but instead selecting the best team that aligns with your values, continuing a focus on self regulation, and making darn sure that products are as safe as possible within the ragged framework we have been given to increase access to millions who have been denied for so long as quickly and safely as possible.

This Chart from Euromonitor International has piqued my interest In recent years, the landscape of beverage consumption has shifted dramatically, with cannabis products increasingly taking the place of alcoholic beverages. This evolution is not just a trend; it reflects changing societal norms, consumer preferences, and regulatory #landscapes. The #alcohol industry, already facing numerous challenges, now finds itself grappling with a new and competitor: cannabis. Historically, alcohol has been prominent in social gatherings and cultural practices. Over a century ago, during the early 20th century, alcohol was often regarded as one of the few safe ways to consume liquids, especially in an era when clean drinking water was a luxury that many could not afford. #PublicHealth issues related to contaminated water sources made alcoholic beverages a more reliable choice for hydration. However, as public health improved and clean water became more accessible, the landscape of consumption began to shift. Fast forward to today, the growing acceptance and legalization of cannabis in many parts of the world are fundamentally altering consumer habits. #Cannabis-infused products, ranging from edibles to beverages, are gaining popularity, particularly among younger generations who prioritize alternative experiences and wellness. Moreover, the rising population and changing demographics contribute to this dynamic. As more individuals—especially #millennials and #GenerationZ—enter the consumer market. For many, the allure of cannabis, with its perceived health benefits and diverse product offerings, outweighs the appeal of traditional #alcoholicbeverages. Another layer of complexity lies in the legal landscape surrounding cannabis. The ongoing legalization and decriminalization of cannabis across various jurisdictions are opening new markets and opportunities for cannabis producers. The alcohol industry is now confronted with a dual challenge: not only is it facing a decline in traditional consumption patterns, but it is also competing against an expanding cannabis market that appeals to a new generation of consumers. This may not present a big problem for the fine market, but with an increase in the premiumization of the alcohol world, the challenges are growing for brands to be in front of consumers. However, how will alcohol and especially wine be introduced to the new generations?

Exploring new frontiers in the cannabis industry with Chiron Financial. Discover how our expertise supports the growth and success of leading brands. Dive into our latest insights and stay ahead in this rapidly evolving market.